After more than 11 years as the CEO of the cryptocurrency exchange Kraken, Jesse Powell, one of the platform’s co-founders and current CEO, has decided to stand down from his position.
According to a statement made by Kraken on Wednesday, chief operating officer Dave Ripley, who has been with Kraken since 2016, will follow Powell as CEO. Ripley has been with the company since 2016. The crypto exchange’s soon-to-be-former chief executive officer will continue to work for the firm in the capacity of board chair while the company looks for a new chief operating officer.
Ripley said his goals were “in lockstep” with Powell’s
In view of Powell’s rise to the role of new leader, Ripley said that his objectives were “in lockstep” with Powell’s. The soon-to-be former CEO is quoted as saying that the expansion of Kraken was a major factor in his decision to stand down from his position, stating, “It’s simply grown to be more demanding on me, less enjoyable.” Powell also said that he intended “to be highly active with the organisation” moving forward.
Powell has served as the CEO of Kraken since 2011, during which time he guided the United States-based cryptocurrency exchange through the industry’s formative years. In the year 2022, he made the announcement that Kraken will be leaving its global headquarters in the city centre of San Francisco. He also blasted “woke activists” as being unsuitable for working at the cryptocurrency exchange because of their ideology.
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